Bill > S2926

This bill, the Science Prize Competitions Act of 2016, makes technical changes to existing laws that allow government agencies to run prize competitions, which are challenges designed to encourage innovation and problem-solving. Specifically, it amends the Stevenson-Wydler Technology Innovation Act of 1980 to clarify that these competitions are referred to as "prize competitions" and that the awards are "cash prize purses." The bill also updates how these competitions are announced, moving from publication in the Federal Register to being posted on publicly accessible government websites like www.challenge.gov. It allows agencies to enter into agreements with private entities to administer these competitions and clarifies that funding for prize competitions can come from both federal appropriations and private donations, with a prohibition against giving special consideration to donors. Additionally, the bill introduces a waiver provision allowing agencies to forgo certain requirements for prize competitions, with a mandate to report any waivers granted and the reasons for them. Finally, it requires agencies to include a plan in their annual reports outlining potential areas for future prize competitions.